Best Fast Business Loans

Fast is relative, but these lenders can get you money in a hurry

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Business loans can be an invaluable aid along the course of operating your own business. Whether you’re just starting out or need a quick injection of cash into an already going concern, these loans can help bridge the gap between revenue and expenses—and soon.

To compile our list, we collected hundreds of data points across more than 20 business loan lenders. In all, we evaluated almost 30 factors, including interest rates, fees, loan amounts, borrower requirements, regional availability, and time to fund.

Best Fast Business Loans of 2023

Best With Multiple Funding Options : Rapid Financing

Rapid Finance

Rapid Finance

  • Loan Amounts: $5,00 to $1,000,000
  • Minimum Credit Score: Not disclosed
  • Days to Fund: Same day
Pros & Cons
  • Fast funding

  • Flexible loan amounts

  • Multiple loan types

  • Undisclosed interest rate

  • Unclear fee structure

  • Requires a minimum loan of $5,000

Why We Chose It

Rapid Financing is our choice for multiple funding options because it offers a wide range of loans from which to choose, including lines of credit, secured loans, and unsecured loans. It also offers a range of loan terms from three months to six years. 

Rapid Finance works quickly; loans can be funded in hours after approval, which makes this a good choice if you need money quickly. 

Borrower Qualifications
  • Minimum credit score/range: Not disclosed
  • Minimum annual business income: Not disclosed
  • Minimum years in business: Reviews last three months of business financials

Best for Short-Term Loans : American Express



  • Loan Amounts: $2,000 to $250,000
  • Minimum Credit Score: 640
  • Days to Fund: 1 to 3 days
Pros & Cons
  • Offers very short-term loans

  • Competitive APR for smaller loans

  • No origination or prepayment fees

  • Monthly fee structure can add up

  • Minimum draw on line of credit $2,000

  • Personal guarantee required

Why We Chose It

American Express offers a business line of credit that funds quickly, especially if you’re already an Amex business customer. This can be a good option for those who only need money for a short period of time, since quick repayment minimizes the fees that you pay. 

The APR for this product ranges from the reasonable on smaller loans to the extravagant for larger loans. You’ll only need annual business income of $36,000 to qualify.

Borrower Qualifications
  • Minimum credit score/range: 640
  • Minimum annual business income: $36,000
  • Minimum years in business: 1
  • Available in all 50 states and D.C.

Best for Minimum Loan Amounts : Lendio

Lendio logo


  • Loan Amounts: $1,000 to $5,000,000
  • Minimum Credit Score: 560
  • Days to Fund: 7 to 14 days
Pros & Cons
  • Low credit score accepted

  • Requires just 6 months in business 

  • Borrow only what you need with a line of credit

  • Requires $50,000 in annual revenue

  • APR up to 24%

  • Loan terms up to 24 months

Why We Chose It

Lendio is not a direct lender—it’s a broker, aggregating 75 lenders offering all sorts of business financing, from accounts receivable funding to SBA loans. One option that funds relatively quickly (a week or so) and offers flexibility is a business line of credit. Lendio touts a line of credit with a loan minimum of $1,000 and a minimum credit score of just 560 in order to qualify. If you’re a business owner with a lower credit score and need for a little capital, Lendio is an option. 

Borrower Qualifications

Borrower qualifications will vary from lender to lender on Lendio’s roster, but it advises that borrowers will do best if they meet several baseline criteria:

  • In business for at least six months
  • FICO score of at least 600
  • Monthly revenue of at least $8,000

Best for Bad Credit : Fundbox



  • Loan Amounts: Up to $150,000
  • Minimum Credit Score: 600
  • Days to Fund: 1 day
Pros & Cons
  • No prepayment fees

  • Requires just 6 months in business

  • Quick decision 

  • Requires $100,000 in annual revenue

  • Weekly fees during repayment

  • Limited term repayment options 

Why We Chose It

Fundbox is one of a few lenders that promise same-day funding. Once approved, you can receive funds in as little as one business day. Although you’ll need to have quite a significant chunk of annual revenue, Fundbox’s low credit score requirements make this line of credit available to many businesses.

While Fundbox lends to lower credit borrowers and younger businesses, the relatively low maximum loan amount means you may be looking elsewhere for bigger loans as your business grows.

Borrower Qualifications
  • Minimum credit score/range: 600
  • Minimum annual business income: $100,000
  • Minimum years in business: At least three months (although six is recommended)

Best From a Fintech : OnDeck

On Deck

On Deck

  • Loan Amounts: $5,000 to $250,000
  • Minimum Credit Score: 625
  • Days to Fund: Same day
Pros & Cons
  • No line of credit draw fees

  • Fixed 12-month terms

  • Builds business credit

  • High average APR

  • Daily or weekly repayment

  • Origination fee

Why We Chose It

You’ll need to have a business checking account in order to apply for a line of credit with OnDeck, but it’s one of the few requirements involved. You’ll also need a credit score of 625, a year in business, and annual revenue of at least $100,000. These requirements are a little more rigorous than at some other lenders, but you’ll also be able to enjoy 24/7 access to withdrawals and instant funds once you’re approved. 

Borrower Qualifications

OnDeck lends to businesses in most U.S. states except Nevada, North Dakota, and South Dakota that meet some basic requirements:

  • In business for at least one year
  • FICO score of at least 625
  • Annual revenue of at least $100,000

Best From a Big Bank : Bank of America

bank of america logo
  • Loan Amounts: $10,000 and up
  • Minimum Credit Score: 670
  • Days to Fund: Not disclosed
Pros & Cons
  • Low APR

  • Line of credit or lump-sum loans possible

  • Physical branches

  • Origination fee

  • Online applications for BofA customers only

  • Requires two years in business

Why We Chose It

Bank of America offers several small business loan options, including secured and unsecured loans and lines of credit. Its APRs are competitive, and if you’re an existing BofA customer, with significant funds on deposit, you will enjoy even better rates.

Depending on which product you choose, you may need as little as six months in business, which can make Bank of America’s offering accessible to even the youngest businesses. 

Borrower Qualifications
  • Minimum credit score/range: 670
  • Minimum annual business income: $100,000
  • Minimum years in business: 2 (6 months for a cash-secured loan)

Final Verdict

Are you looking for the fastest money possible? Rapid Financing is your lender. Plus it offers a variety of financing options. If you’re looking for a streamlined application process, you may want to opt for a product such as the line of credit offered by Fundbox. Its easy application provides you with a decision in minutes and money in one day. 

Otherwise, American Express offers loan amounts as low as $2,000 and the best APR among the lenders we evaluated. However, you’ll need to have good credit in order to qualify. If that’s something you’re still establishing, Lendio’s minimum requirement of just 560 means just about everyone’s credit score will qualify them for a loan. 

Compare the Best Fast Business Loans

Lender Loan Amounts Minimum Credit Score Days to Fund
Rapid Financing $5,001 to $1,000,000 Not disclosed Same day
American Express $2,000 to $250,000 640 1 to 3 days
Lendio $1,000 to $5,000,000 560 7 to 14 days
Fundbox Up to $150,000 600 1 day
OnDeck $5,000 to $250,000 625 Same day
Bank of America $10,000 and up 670 N/A

Guide to Choosing Fast Business Loans

Key Factors to Consider

  • Know your credit score. Your credit score is an important profile of who you are as a borrower. Lenders use this information to identify their risk when funding loans, and your score can affect things such as how much you qualify for and your interest rate.
  • Determine how much your business needs. Lump sum loans give you instant access to all your money, while a line of credit acts more like a credit card. Understanding how much you need (and only using that amount) can help you reduce the interest and fees that you pay. 
  • Calculate your debt-to-income ratio. Your debt-to-income (DTI) ratio is the amount of money you have each month after your bills have been paid. Most lenders don’t want to exceed a certain DTI, as it increases the risk of defaulting on payments. 
  • Research APRs. The interest rate you’ll pay for your loan is going to dramatically impact how much you owe. APRs are as high as 49.06% among the lenders here, so you’ll need to weigh interest expense among other factors. 
  • Read loan terms and conditions. Make sure you understand payment terms, fees, and other loan features before you choose.

Determine whether or not a loan requires collateral for funding. If your business is mainly digital or doesn’t deal with physical assets, this may be a roadblock to approval. 

How to Get a Fast Business Loan

  1. Research lenders and loan types.
  2. Investigate payment terms, loan amounts, interest rates, and requirements for approval.
  3. Gather your documentation.
  4. Apply for a loan.
  5. Sign your loan documents.
  6. Receive your funds. 

Alternatives to Fast Business Loans

  • Merchant cash advance: This type of loan is often repaid via a portion of your daily credit and debit card transactions.  
  • Business credit cards: Business credit cards can give you access to a revolving line of credit, but you’ll want to be wary of due dates for payment and high interest rates. 

How Long Do Fast Business Loans Take for Approval?

The speed at which a business loan is approved depends on the lender and your business’s qualifications. Some lenders will fund your account in just a few hours once approved. If you have a prior relationship with a lender (say, you already have a checking account with one), the process may move faster.

What Is the Easiest Business Loan to Get?

The easiest type of business loan to get will depend on how long you’ve been in business, your credit score, and your annual revenue. However, a secured line of credit, which requires you to put your own money down as a deposit, will be the easiest loan to get. 

Can You Get a Fast Business Loan With Bad Credit?

Yes, it’s possible to get fast business loans for bad credit, but you may have more limited options. Among the lenders we have looked at, one requires a credit score of 600, while another will approve you with a score of just 560.

Can Startups Get a Fast Business Loan?

Your approval odds for a fast business loan will vary by lender. Some may require that you have two years of business history before lending you money. Others may require just a few months of business history.


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of secured business loan lenders. To rate providers, we collected hundreds of data points across more than 20 business loan lenders. We evaluated those lenders based on 29 factors, including interest rates, fees, loan amounts, borrower requirements, and national availability.

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  1. Consumer Financial Protection Bureau. "What Is a Credit Score?"

  2. Consumer Financial Protection Bureau. "What Is a Debt-to-Income Ratio?"